Indiana Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162A
• Format: Word; Rich Text

Description

20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise Indiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is a unique compensation program offered by First Florida Banks, Inc. that allows employees to receive financial rewards based on the book value of the company's stock. This plan is designed to incentivize and retain talented individuals within the organization while aligning their goals with the success of the company. The Indiana Book Value Phantom Stock Plan follows a formula that calculates the worth of an employee's phantom stock units based on the book value per share of First Florida Banks, Inc.'s common stock. Participants are awarded a specified number of phantom stock units, which mirror the performance of actual company shares in value. These units accrue over a predetermined period and are subject to specific vesting requirements. Keyword variations: First Florida Banks, Inc. phantom stock plan, Indiana book value stock plan, employee compensation program, compensation based on book value, First Florida Banks, Inc. employee benefits, Indiana stock-based compensation. This plan offers several benefits to employees, including the potential for significant financial gain as the book value of the company's stock increases. Additionally, by utilizing phantom stock units, participants are not required to purchase or hold actual company shares, eliminating the need for personal investment. This allows employees to enjoy the benefits of stock ownership, such as potential dividends and appreciation, without the associated risks. There may be different types or variations of the Indiana Book Value Phantom Stock Plan within First Florida Banks, Inc., tailored specifically for different employee groups or roles. These variations could include executive phantom stock plans, director-level phantom stock plans, or employee-specific plans to cater to different compensation needs and levels of responsibility within the organization. Through the Indiana Book Value Phantom Stock Plan, First Florida Banks, Inc. aims to incentivize its employees to work diligently towards the growth and success of the company. This program fosters a shared company-wide goal of increasing the book value per share, motivating employees to go above and beyond their regular duties. By linking compensation to the company's financial performance, First Florida Banks, Inc. encourages a sense of ownership and accountability among its workforce. In summary, the Indiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is a performance-based compensation program that rewards employees based on the book value per share of the company's stock. Through phantom stock units, employees can enjoy the benefits of stock ownership without personal investment risks. This plan fosters a sense of ownership, incentivizes performance, and aligns employee goals with the success of First Florida Banks, Inc. Note: The specific variations of Indiana Book Value Phantom Stock Plan within First Florida Banks, Inc. mentioned in this content are hypothetical and may not reflect the actual plan offerings provided by the company.

Indiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is a unique compensation program offered by First Florida Banks, Inc. that allows employees to receive financial rewards based on the book value of the company's stock. This plan is designed to incentivize and retain talented individuals within the organization while aligning their goals with the success of the company. The Indiana Book Value Phantom Stock Plan follows a formula that calculates the worth of an employee's phantom stock units based on the book value per share of First Florida Banks, Inc.'s common stock. Participants are awarded a specified number of phantom stock units, which mirror the performance of actual company shares in value. These units accrue over a predetermined period and are subject to specific vesting requirements. Keyword variations: First Florida Banks, Inc. phantom stock plan, Indiana book value stock plan, employee compensation program, compensation based on book value, First Florida Banks, Inc. employee benefits, Indiana stock-based compensation. This plan offers several benefits to employees, including the potential for significant financial gain as the book value of the company's stock increases. Additionally, by utilizing phantom stock units, participants are not required to purchase or hold actual company shares, eliminating the need for personal investment. This allows employees to enjoy the benefits of stock ownership, such as potential dividends and appreciation, without the associated risks. There may be different types or variations of the Indiana Book Value Phantom Stock Plan within First Florida Banks, Inc., tailored specifically for different employee groups or roles. These variations could include executive phantom stock plans, director-level phantom stock plans, or employee-specific plans to cater to different compensation needs and levels of responsibility within the organization. Through the Indiana Book Value Phantom Stock Plan, First Florida Banks, Inc. aims to incentivize its employees to work diligently towards the growth and success of the company. This program fosters a shared company-wide goal of increasing the book value per share, motivating employees to go above and beyond their regular duties. By linking compensation to the company's financial performance, First Florida Banks, Inc. encourages a sense of ownership and accountability among its workforce. In summary, the Indiana Book Value Phantom Stock Plan of First Florida Banks, Inc. is a performance-based compensation program that rewards employees based on the book value per share of the company's stock. Through phantom stock units, employees can enjoy the benefits of stock ownership without personal investment risks. This plan fosters a sense of ownership, incentivizes performance, and aligns employee goals with the success of First Florida Banks, Inc. Note: The specific variations of Indiana Book Value Phantom Stock Plan within First Florida Banks, Inc. mentioned in this content are hypothetical and may not reflect the actual plan offerings provided by the company.